At the heart of any successful entrepreneur is the ability to identify and meet a market need. In some cases, meeting this need is premised on the introduction of an original, innovative product while in others it is about improving the process by which it is produced and delivered. The latter appears to be the case in the eyewear industry where startup Warby Parker is aiming to provide consumers with “high quality eyewear at a fraction of the price.” Although it’s still early days, the company’s business model seeks to bridge the gap between a social need for affordable quality eyewear and an industry that has succeeded in keeping prices artificially high.
Michael Shavel, CFA is the Research & Business Analyst at Cornerstone Capital Inc. and a former Research Analyst on AllianceBernstein’s Global Growth & Thematic team.
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